The DeFi market is booming and while the space has seen an increase in the number of users, they can feel overwhelmed with the number of options available. While choosing a DeFi platform a user needs to consider factors such as the safety of their funds, APY yields combined with the ease of using the platform.
Vortex DeFi offers its users a one-stop solution as an aggregator that provides seamless consolidated access to protocols such as Aave, Compound Finance, and YFI.
What is Vortex DeFi?
Vortex DeFi is a web-based DeFi management system that aims to act as a bridge between Ethereum and Polkadot.
The platform was launched in September 2020 through a private investment round, accruing interest and funding from DuckDao, X21 Digital, Moonrock Capital, Magnus Capital, Faculty Capital, A195 Capital, and Pluto Digital Assets PLC.
Vortex DeFi is working towards becoming a one-stop solution for users in the DeFi space by providing them a simplified experience. The platform also has a DAAS (DeFi-as-a-service) business model. Some of the core services of the platform are lending, borrowing, insurance, exchange, and NFT asset management.
Products and services
Vortex DeFi has a lot of products and services that help the platform provide its users with a complete experience:
The Vortex DeFi token ($VTX) is the native token of the platform. It is an ERC-20 token that would be used to incentivize users. The token has a number of use cases in the Vortex ecosystem including acting as a governance token for the dApp, providing liquidity rewards to token holders, and staking.
The token has a total supply of 100 million VTX with an initial circulating supply of $0.4 million.
20% of the share of the VTX token is reserved for the Vortex DeFi team and their advisors, while a 27% share is reserved for rewards. 32.5% of the share is for the seeding and private sale, while a 10% share is for marketing purposes. An 8% share is for future reserves while the remaining 2.5% share is kept aside for public sale.
The Vortex DeFi platform offers its users a wholesome DeFi experience with their services, dashboard, and the ability to fuse several protocols together. While initially the platform was launched in stealth mode, it was successful in its IDO on Duckstarter while providing investors with a 25x return.
Vortex DeFi aims to integrate more DeFi protocols like Yearn, Uniswap, Curve, Nexus, and Maker DAO in the future for their users.
The platform also plans to include cross-chain expansion in the future from Ethereum to BSC (Binance Smart Chain) and DOT. Apart from the lending and borrowing services, the platform’s cross-chain functionality is a key feature that contributes towards its growing popularity.
For more information on Vortex DeFi, please check out their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.